West Texas Intermediate (WTI) trades around $89.40 at the time of writing on Wednesday, up 2.33% on the day, as investors return to the Oil market following a strong rebound driven by geopolitical tensions in the Middle East.
Major crypto assets trade under intense headwinds on Wednesday, as market participants navigate complex geopolitical and macroeconomic environments. Bitcoin (BTC) has slipped toward $61,000 after its recent rebound was sold near $64,000, leaving buyers exhausted.
Brown Brothers Harriman’s (BBH) Elias Haddad notes that the US Dollar retains upside risk as US inflation is expected to heat up in May and the disinflation trend has stalled.